What is the validity of sale agreement if transaction not concluded in stipulated time period
2 years ago
A has purchased land from B. A has paid some amount as advance. In sale agreement it is mentioned 60days time for registration. If registration cannot be done in 60days then B agreed to clear all issues and complete the registration. Then what will be the validity for that sale agreement.
A.Dear Sir,
Normally it is valid for three years unless the aggrieved party may get issue a legal notice for violation of any conditions and break the contract.
Vaidehi Samant
Responded 2 years ago
A.The question is itself confusing. What do you mean by "If registration cannot be done in 60days then B agreed to clear all issues and complete the registration." ?
Anyhow this is agreement to sell as per what I understand so it is a contract wherein defaulting parties may be sued in the Court of law for specific performance i.e. fulfilling their part of the what was agreed in the agreement. Thank you.
The validity of the contract remains as per the terms of the contract. So, if one party fails to perform his tasks within the stipulated term then the contract will not be valid. However, if both the parties are okay to carry forward the registration after the accepted time, then the contract will be voidable and can carry forward by changing the terms of the agreement.
Thank you.
Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
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